sp'daily5
VIX'daily3
Summary
It was a day of moderate chop for US equities, leaning on the weaker side. Its notable that the Nasdaq comp' managed yet another new historic high. The two leaders did close sig' lower, but they do tend to move twice the amount that the headline indexes do.
Market volatility floored in the low 10s in the morning, and increased into the afternoon. A brief foray to VIX 12 seems probable next Monday.. if sp'2374. The low teens look out of range until next Thurs/Friday.
-
Net monthly gains - sp'monthly3c
The sp'500 settled net higher by 21pts (0.9%) to 2384. Most notable this month, new historic highs for the Nasdaq comp' and R2K. The sp' settled 5.8% above the key 10MA. At next Monday's May 1st open, that will jump into the 2270s, and will be around the 2300 threshold in June.
--
Here in the metropolis of cranes...
This market is no fun ride for those still bearish.
Goodnight from London
--
*the weekend post will appear Sat' 12pm EST, and will detail the World monthly indexes.... and it remains my most important post each month.